AXA agrees sale to Resolution
AXA has announced that it has agreed to sell its UK-based traditional life and pensions businesses, its IFA protection and corporate pension businesses and its annuity businesses, for £2.75 billion to Resolution. A statement from AXA read: “This potential transaction does not call into question the Group’s continuing long-term commitment to the UK market going forward. AXA UK will continue to develop its leading AXA wealth management operations, comprising the wrap platform, Architas MultiManager, Wealth International and the AXAWinterthur Wealth Specialist pensions and investments operations, as well as its Direct Protection business.” Henri de Castries, chairman and chief executive officer of the AXA Group, commented: “With this transaction, we are selling to Resolution businesses, notably protection and group pensions, which will benefit from Resolution’s bugger scale in these activities. We will focus on our UK wealth management business, where we are among the leaders and plan to continue to grow fast.”
AXA has announced that it has agreed to sell its UK-based traditional life and pensions businesses, its IFA protection and corporate pension businesses and its annuity businesses, for £2.75 billion to Resolution. A statement from AXA read: “This potential transaction does not call into question the Group’s continuing long-term commitment to the UK market going forward. AXA UK will continue to develop its leading AXA wealth management operations, comprising the wrap platform, Architas MultiManager, Wealth International and the AXAWinterthur Wealth Specialist pensions and investments operations, as well as its Direct Protection business.”
Henri de Castries, chairman and chief executive officer of the AXA Group, commented: “With this transaction, we are selling to Resolution businesses, notably protection and group pensions, which will benefit from Resolution’s bugger scale in these activities. We will focus on our UK wealth management business, where we are among the leaders and plan to continue to grow fast.”